Plastic Surgery's Affordable To All

March 20, 2006|Harriet Johnson Brackey Business Writer and Tom Stieghorst Business Writer and Kathy Bushouse Business Writer

Plastic surgery isn't just for the rich and famous anymore.

It actually seems to attract the low- and lower-middle-income crowd more than others.

That's what the American Society of Plastic Surgeons found when it did its first survey of 644 potential patients. Almost 30 percent had household income of less than $30,000. Another 41 percent topped out at $60,000.

That didn't surprise Dr. Walter Erhardt, chairman of the society's public education committee. "My patients are the people you see in everyday life," he said.

But those who live on less than $30,000 a year have $4,822 to blow on physician's fees for a face lift? Or $3,373 for a breast augmentation?

"It gets down to why do people have plastic surgery," Erhardt said. "People do it because it makes them feel better about themselves and that's not limited to any particular economic range."

Plenty of those patients, no doubt, go through cosmetic surgery even if they have to borrow the money. In Britain, the Daily Star reported last month that "Banks that Say Yes to Breasts" (that was the headline) were, ah, seeing that business expand. The cosmetic surgery industry itself grew by $1 billion in 2005, the surgeons group says, to an estimated $9.4 billion in doctors' revenues.

The Nip and Tuck and Lend a Buck crowd includes GE Consumer Finance's CareCredit and Capital One. But be warned: The price of their loans might hurt more than the operation.

Capital One offers cosmetic surgery loans of up to $25,000, for terms up to five years, with interest rates running as high as 23.9 percent.

-- Harriet Johnson Brackey Business Writer

Holland passengers to walk on water

Holland America Line is taking the familiar walk-a-thon charity concept to sea. It hopes to raise $500,000 or more for the Susan G. Komen Breast Cancer Foundation by enlisting passengers for a 5K walk on their cruise.

Starting April 1, passengers will be able to fight breast cancer by walking around the deck one morning. Depending on the ship, it takes 9 to 12 laps to complete the five kilometers. For a $15 donation, passengers get a T-shirt, a wristband and a pink lemonade party at the end of the walk. Holland America said it will ensure that at least $11.25 of the $15 goes to the charity, and that the program results in a $250,000 minimum donation.

On four test cruises, a total of 450 people signed up. The cruise line expects to offer the program on 500 cruises.

-- Tom Stieghorst Business Writer

Business gets credit for less

As prices continue to rise for nearly everything these days, a bright spot for business owners: A new report by Credit Card Monitor at IndexCreditCards.com shows that rates are declining for business credit cards, while consumers' card rates are continuing to go up.

The average credit-card rate for consumers' standard, nonreward credit cards increased to 13.33 percent the week of March 6, up from 12.6 percent at the beginning of 2006, according to the Credit Card Monitor, a weekly survey of credit card rates.

But rates for nonreward business credit cards were at 11.3 percent that same week, slightly less than the 11.33 percent at the start of the year. Some credit-card issuers are dropping rates even lower to lure customers.

"To see an actual decrease in the average rate during a time of consistent hikes for consumers is surprising. It tells you there's money to be made in the small business niche, and that no one is dominating that space right now," said Justin McHenry, Research Director for IndexCreditCards.com.